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Jun 21, 2013
06/13
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what's your assessment of our economy? >> yeah. what's interesting, larry, is we know that the fiscal drag is hitting right now. the combination of tax increases and spending cuts should be the most onerous right now in the second and third quarter and yet, the u.s. economy has held in there fairly well and i'm not so optimistic that we'll get through the two quarters without a drop some place and i'm concerned about not only china's pmi, but i think we'll get softening economic data here that will take some of the taper off of the tapering that we're getting from the fed. in other words, yields should back down here after they race up a bit more. i think 275 on the ten-year might be the peak there and the midpoint in the summer we'll question the u.s. economy a little bit more because of the fiscal drag and just one more thing. two weeks ago, i got a meeting with orrin hatch, and he's obviously the ranking minority member of the central tax writing authority in the congress on the senate side, we know that tax reform is moving for
what's your assessment of our economy? >> yeah. what's interesting, larry, is we know that the fiscal drag is hitting right now. the combination of tax increases and spending cuts should be the most onerous right now in the second and third quarter and yet, the u.s. economy has held in there fairly well and i'm not so optimistic that we'll get through the two quarters without a drop some place and i'm concerned about not only china's pmi, but i think we'll get softening economic data here...
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Jun 22, 2013
06/13
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CSPAN
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the economy has to grow on its own volition. you cannot have this artificially-induced said said -- fed stimulus. itke any drug, it wears off. may have already started. it is not as effective, so we might see some corrections in the market going forward. the fed might come out like bullard came out and said, -- and say, he is only kidding. he is not kidding.the markets are already moving against it. we will see how far it goes. right now, raising taxes is a hotly-debated economic issue. most economists -- ic issuebated economy among economists. you can imagine what site i am on. i am not in favor of tax hikes because it kills the timing. christina romer said that is true. the endgame said -- the end game is not going to be pretty. host: an editorial cartoon shows fed chairman ben bernanke pulling the rug on quantitative easing.stephen idaho falls, idaho. falls, idaho.aho good morning. caller: good morning. i was wondering if printing dollars is a flat tax that president obama and his administration could not possibly pass otherw
the economy has to grow on its own volition. you cannot have this artificially-induced said said -- fed stimulus. itke any drug, it wears off. may have already started. it is not as effective, so we might see some corrections in the market going forward. the fed might come out like bullard came out and said, -- and say, he is only kidding. he is not kidding.the markets are already moving against it. we will see how far it goes. right now, raising taxes is a hotly-debated economic issue. most...
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Jun 19, 2013
06/13
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FBC
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the economy is abo think we thought 2 would be at the start of 2013. we think it is a slow growth u.s. economy growing about 2%. europe maybeefeels like it is hitting the bottom. still no growth, maybe slightly negative. in the developing world it is still the fastest growing markets for us. i think china rather than growing 8%, may be growing closetory 6 to 7%. but the important thing it is not getting any worse and i do see global trade, cross-border trade increasing. >> okay. that's a good sign if we see trade increasing. but ups guidance in the first quarter, you're still saying earnings per share growth of roughly 6 to 12%. the target is 10 to 15%. has that changed as we get ready for your earnings report in july? >> no. we'll update that, adam first part of july. currency was hurting us. we had higher pension expense because of the lower discount rates at the end of last year. take that out we would be pretty close to our long-term ranges. we don't see looking into the future that we shouldn't hit that 10 to 15% earnings growth. >> let me bring u
the economy is abo think we thought 2 would be at the start of 2013. we think it is a slow growth u.s. economy growing about 2%. europe maybeefeels like it is hitting the bottom. still no growth, maybe slightly negative. in the developing world it is still the fastest growing markets for us. i think china rather than growing 8%, may be growing closetory 6 to 7%. but the important thing it is not getting any worse and i do see global trade, cross-border trade increasing. >> okay. that's a...
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Jun 22, 2013
06/13
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CSPAN
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does the economy recover painfully slowly? yesterday john taylor at stanford has an interesting study. this is the worst recovery from a financially related recession in the history of the united states. generally, the markets are slow to recover. this is far worse. this involves the entire economy. it was not in the financial collapse. ,ost: in the financial times have a headline, fed signals sent investors running for cover. he delivered the clearest signal yet that the u.s. central bank was preparing to scale back or tapir its monthly asset purchases as long as u.s. economic conditions improve as expected. he commented at a news conference on thursday. was speedy and brutal. from georgeers mason university is here to talk to us about that. our next call is charles on our line for democrats. caller: it is nice to be able to speak this morning in reference to the economy. my issue is simply this. we have an economy with the laws are not enforced. the big bank ceo's have gotten away with murder and wrecked in this country. not
does the economy recover painfully slowly? yesterday john taylor at stanford has an interesting study. this is the worst recovery from a financially related recession in the history of the united states. generally, the markets are slow to recover. this is far worse. this involves the entire economy. it was not in the financial collapse. ,ost: in the financial times have a headline, fed signals sent investors running for cover. he delivered the clearest signal yet that the u.s. central bank was...
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Jun 21, 2013
06/13
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FBC
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this economy -- >> there are some points made, either the economy strengthens sufficiently that the fed and pull back asset purchases and paper as they're talking about going from $85 billion to $75 billion a month, who knows? there's a lot of money being or the economy doesn't strengthen enough and canned tapir and liquidity will drive asset prices. q e was designed for it deflation, and designed to raise home prices and in mortgages -- i am not saying the world is perfect. and we just disagree with what the ultimate outcome would be and we are more bullish than he is. >> equity markets trading at 15 times multiple but you really have a growth trajectory of 2%. normal trajectory for the equity market with 15 times multiple gdp growing. but you don't have that. you need to see a fill in with economic activity in the second half for start to see more -- i would like to point out of this market, as you see even taper you are seeing risk of trade kick in and yields go higher, and maturities to four year, 3.5 year maturity to waive this out and perhaps wetter the approach to their portfolio
this economy -- >> there are some points made, either the economy strengthens sufficiently that the fed and pull back asset purchases and paper as they're talking about going from $85 billion to $75 billion a month, who knows? there's a lot of money being or the economy doesn't strengthen enough and canned tapir and liquidity will drive asset prices. q e was designed for it deflation, and designed to raise home prices and in mortgages -- i am not saying the world is perfect. and we just...
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Jun 19, 2013
06/13
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CNBC
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if market does well when the economy does well. this is just a short-term thing of people addicted to sugar, get them off the sugar, they'll be fine. >> do you think job growth is strong enough? the last four reports, the average growth rate has been about 194,000 jobs. chairman bernanke was suggesting, you know, he's throwing out the caveat that we're talking about a timetable of starting the tapering later this year, assuming that that kind of job growth continues. do you think it will? >> i think, actually, he's doing better, if you look at the household survey, which means it's small businesses that may be more robust than we think. this whole premise that the federal reserve is helping the economy by doing what it's doing, i think needs to be closely re-examined. it's sent credit to things like fannie and freddie, from the federal government to big companies, but it also means that it's been a slow trickle of credit until recently, to smaller businesses, which are the real job creators in this economy. and you look at insuranc
if market does well when the economy does well. this is just a short-term thing of people addicted to sugar, get them off the sugar, they'll be fine. >> do you think job growth is strong enough? the last four reports, the average growth rate has been about 194,000 jobs. chairman bernanke was suggesting, you know, he's throwing out the caveat that we're talking about a timetable of starting the tapering later this year, assuming that that kind of job growth continues. do you think it will?...
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Jun 19, 2013
06/13
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CNBC
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we knew the economy was improving. we're looking at the numbers, the way the federal reserve is looking at the numbers. unemployment has improved a bit. housing has certainly improved. what's wrong with the story, jeff? >> i think the market is overreacting. i agree with your second guest. it's going to be interesting to me to see if they can pile on here the rest of this week. i have been looking for some kind of intermediate top. i thought it would come in july. but we are very close to where i think you're in a place where you could get the first meaningful pullback, and if the markets don't correct themselves and start back up, i'd say in the next day or two, i'd say that pullback is here. >> all right. let me get to gordon, because he's been on the floor watching the activity, finishing up, settling his trades. gordon, what did you see at the end of the day? i know we were going down, down, down, as the market digested that we could, in fact, see the tapering begin in september of this year. but at the end of the
we knew the economy was improving. we're looking at the numbers, the way the federal reserve is looking at the numbers. unemployment has improved a bit. housing has certainly improved. what's wrong with the story, jeff? >> i think the market is overreacting. i agree with your second guest. it's going to be interesting to me to see if they can pile on here the rest of this week. i have been looking for some kind of intermediate top. i thought it would come in july. but we are very close to...
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Jun 16, 2013
06/13
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WBAL
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>> so 2% economy. do you think the market is ahead of itself knowing we are in a 2% grower? >> personally, i don't think so, the phrase we have been using is tina, there's no alternative. and i agree with rebecca, that you are not in a situation where you are going to be getting high real rates from bonds. i think the back up in bond yields was a reminder that you can lose money, particularly in bond funds. so it's a very strong environment. i think, it's a strong reminder that equities are an important part of the total return that investors are seeking. >> and i think one of the good things that he said about unemployment rate and it not coming down quickly. you know, consumers doing well, businesses are still cautious and we are in a global economy and a lot of u.s. companies today, depend on sales overseas. the u.s. is doing better, but overseas europe is trying exit recession and china is growth rate slowing, brazil is facing pains. and even if the consumer is doing better, overseas is still a lit
>> so 2% economy. do you think the market is ahead of itself knowing we are in a 2% grower? >> personally, i don't think so, the phrase we have been using is tina, there's no alternative. and i agree with rebecca, that you are not in a situation where you are going to be getting high real rates from bonds. i think the back up in bond yields was a reminder that you can lose money, particularly in bond funds. so it's a very strong environment. i think, it's a strong reminder that...
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Jun 19, 2013
06/13
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KRCB
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of course, that depends on the economy and that the economy sticks to the script that the fed believes it will and, you know, that's most likely economic sen scenario and interest rate path. >> mark, what do you think of the timetable? do you think the economy is ready to have the training wheels come off? >> yeah, i do. you know, i think that by late this year, the fiscal head winds, the tax increases and spending cuts will begin to fade that will let the better private economy shine through that is a long narrative in story but i think it is the best and most likely story and yes, at that point i think it makes sense to start tapering qe ending and starting to raise interest rates. >> if the economy is getting better which allows the tapering of the qe, why did the markets react so negatively? >> yeah, good question. you know, if you read sort of the fine print in the fomc statement, it was pretty hawkish. they dowed back their worries about the risks to the economy. they lowered their forecast for the unemployment rate. they even dismissed the lower inflation to be temporary. i thin
of course, that depends on the economy and that the economy sticks to the script that the fed believes it will and, you know, that's most likely economic sen scenario and interest rate path. >> mark, what do you think of the timetable? do you think the economy is ready to have the training wheels come off? >> yeah, i do. you know, i think that by late this year, the fiscal head winds, the tax increases and spending cuts will begin to fade that will let the better private economy...
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Jun 19, 2013
06/13
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CNBC
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they are all coming down. >> no, i think the economy is fine. i mean, remember the amount of fiscal drag. look at real consumer spending, growing at about a 2% to 3% pace in the first half of the year. that's great if you're bringing the deficit down. we've got a lot of fiscal drag and the economy is dealing with that. i think we're seeing good numbers on housing. i think we're seeing good numbers on consumer spending. everything is not right in business or manufacturing, i get that, there's a lot of weakness in the world economy, but overall the economy is absorbing a huge amount of fiscal draug drag right now. i think it's powering through that, and i think it's actually got less to worry about.right n. i think it's powering through that, and i think it's actually got less to worry about. >> it's a very big footprint. >> something that's very important to remember. >> just to reiterate, there's no explicit indication from the fed that it's close to scaling back its bond-buying program. bob pisani, the markets have been moving lower on this. cu
they are all coming down. >> no, i think the economy is fine. i mean, remember the amount of fiscal drag. look at real consumer spending, growing at about a 2% to 3% pace in the first half of the year. that's great if you're bringing the deficit down. we've got a lot of fiscal drag and the economy is dealing with that. i think we're seeing good numbers on housing. i think we're seeing good numbers on consumer spending. everything is not right in business or manufacturing, i get that,...
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Jun 23, 2013
06/13
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CNBC
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the impact on the economy and younger people. "on the money" begins right now. >>> here's a look at what's making news as we head into a new week "on the money." ben bernanke spoke and the economy had a taper tantrum. he said the economy is getting stronger and if the strong reports continue, the fed will slow down the pace of the bond-buying programs that helps to keep interest rates low this fall. bernanke also said quantitative easing could end by the middle of next year. >> if the incoming data are broadly consistent with this forecast, the committee currently anticipates that it would be appropriate to moderate the monthly pace of purchases later this year, and if the subsequent data remain broadly aligned with our current expectations for the economy, we would continue to reduce the pace of purchases in measured steps through the first half of next year, ending purchases around midyear. >> well, those words spooked the markets. the dow jones industrials average tumbled 350 points on thursday, the worst day since the preside
the impact on the economy and younger people. "on the money" begins right now. >>> here's a look at what's making news as we head into a new week "on the money." ben bernanke spoke and the economy had a taper tantrum. he said the economy is getting stronger and if the strong reports continue, the fed will slow down the pace of the bond-buying programs that helps to keep interest rates low this fall. bernanke also said quantitative easing could end by the middle of...
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Jun 20, 2013
06/13
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FOXNEWSW
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he saved the economy. now he is in the process of mapping the economy. you look at the second part, managing is harder than saving because you can do different things rather than one thing. so the market feels uncertain about this. natural for it to be uncertain. in the risk off, risk on world, when they're not sure, they stop everything. >> neil: you were around during the '87 market crash and crashettes. before and after. what do you watch for for something that overstays its welcome? in other words, just vote of keeps going on and -- just kind of keeps going on and on. >> you see if you missed something. this artificial economy, interest rates are out of whack. they're killing all kinds of investors, starting with retirees. so how long it lasts is how long it takes for all of these people to look further into the numbers, and come up with something that satisfied or at least making -- >> that gets to the question on how high should interest rates really be. some say if the fed were to just quit riding the apron strings for us, that maybe they wouldn't
he saved the economy. now he is in the process of mapping the economy. you look at the second part, managing is harder than saving because you can do different things rather than one thing. so the market feels uncertain about this. natural for it to be uncertain. in the risk off, risk on world, when they're not sure, they stop everything. >> neil: you were around during the '87 market crash and crashettes. before and after. what do you watch for for something that overstays its welcome?...
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Jun 16, 2013
06/13
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CNBC
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this is not a -- it's a 2% economy, and not going to create enough jobs with this level of economy to get out of the sevens. >> so, 2% economy. do you think the market is ahead of itself, knowing that we're in a 2% growth? >> i don't think so. the phrase we've been using is tina. there is no alternative. i also agree with rebecca you're not in a situation where you're going to be getting very high yield rate from bonds. the backup is a good reminder you can lose money, particularly in bond funds. so, it's a very strong environment, i think, very strong reminder that equities are very important part of the total return that investors are seeking. >> one of the good things he ó it not coming down quickeñ consumers doing well, businesses cautious, and we're in a global economy and a lot of u.s. companies today depend on sales joest assess. the u.s. is doing better but overseas, europe is still struggling with the recession, china's economy is growing, markets are face something pains right now, and even if the consumer is doing better, overseas still a little bit tricky, and that affe
this is not a -- it's a 2% economy, and not going to create enough jobs with this level of economy to get out of the sevens. >> so, 2% economy. do you think the market is ahead of itself, knowing that we're in a 2% growth? >> i don't think so. the phrase we've been using is tina. there is no alternative. i also agree with rebecca you're not in a situation where you're going to be getting very high yield rate from bonds. the backup is a good reminder you can lose money, particularly...
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Jun 22, 2013
06/13
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CNNW
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economy can stand on its own. that means the u.s. economy is healing. but then you have nagging concerns about the rest of the world. a recession in europe, china's growth appears to be slowing. the global worries are one reason why stock investors are so concerned about a pull-back from the fed right now. >> this is a classic case of heads you win, tails i lose. it doesn't matter what bernanke would have said, the markets are ready to fall out of bed. it's per ververse, it's obscure it's childish, it's all those things. but here's the reason. because investors have gone for exotic emerging markets with very narrow exits. of course, when things start to change, they all head for the door at the same time. you're absolutely right. the mere fact that he will be taking his foot off the gas is because the car is going fast enough on its own. so you have to put it into context. do i think we should be concerned? the hiccup, bucolic plague of the last week. absolutely not. the market knew it was coming and they're just having a nasty bout of indigestioindiges
economy can stand on its own. that means the u.s. economy is healing. but then you have nagging concerns about the rest of the world. a recession in europe, china's growth appears to be slowing. the global worries are one reason why stock investors are so concerned about a pull-back from the fed right now. >> this is a classic case of heads you win, tails i lose. it doesn't matter what bernanke would have said, the markets are ready to fall out of bed. it's per ververse, it's obscure it's...
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Jun 23, 2013
06/13
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FOXNEWSW
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it is good for our economy. this bill is good for our national securitiment no one can get a green card until the board of security measures are up and running and e verify is up and running and controlling a job in the -- in america. as to the 11 million they will have an earned, hard pathway to citizenship. they need to get in the back of te line before they become a citizen. they can't cut in line. they have to pass two english proficiency exams. i reject the idea of becoming mideastern europe. america is different than mideastern europe. this is a good solution for our national security and for our economy and tough, practical solution to 11 million. and most importantly if we do this bill, amnesty is the status quo. if we do this bill, there will be no third wave of illegal immigration. >> let me ask you about another objection senator lee just mentioned. the idea that this will be a huge 1200-page bill. i heard you complain about that during obamacare. the idea you have this huge bill that nobody has read
it is good for our economy. this bill is good for our national securitiment no one can get a green card until the board of security measures are up and running and e verify is up and running and controlling a job in the -- in america. as to the 11 million they will have an earned, hard pathway to citizenship. they need to get in the back of te line before they become a citizen. they can't cut in line. they have to pass two english proficiency exams. i reject the idea of becoming mideastern...
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Jun 21, 2013
06/13
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CNBC
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is the economy strong enough? is the economy around the world strong enough to support the market at this level if they're going to pull support away. >> i think what he's trying to say is the economy he hopes will be strong enough. they're not pulling the rug out right now. they've made it clear they're extremely data dependent. i think they're expecting the economy to be strong enough, and i think they're expecting that when it is, they will start to pull back. to be clear, you know, you made a comment earlier about are we ahead of ourselves from a fundamental perspective? i think the market is very forward looking, right? so the point there is i think the market is looking ahead six months and saying, we're going to be in a very different place -- >> hang on, hang on. i understand that point, but i don't think that's where we are because we were artificially inflated by the fed, and the assumption was that the fundamentals would come up to support us, and, therefore, it's not a normal situation. what we're sayi
is the economy strong enough? is the economy around the world strong enough to support the market at this level if they're going to pull support away. >> i think what he's trying to say is the economy he hopes will be strong enough. they're not pulling the rug out right now. they've made it clear they're extremely data dependent. i think they're expecting the economy to be strong enough, and i think they're expecting that when it is, they will start to pull back. to be clear, you know,...
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banks are very important indeed there are those who say that the most important institutions in the economy today and judging by the way that people hang on ben bernanke is every word like today like today as we're speaking it's obviously true now i think one has to be careful here the central bank has done a tremendous job of avoiding the great depression we came very very close to total meltdown two thousand and eight two thousand and nine we could have rerun the one nine hundred thirty s. i think ben bernanke is a student of the depression did a great job of avoiding that scenario but now we're in a different place the stock market is back to where it was in two thousand and seven and everybody there are scary times now. everybody is asking is it time to take the patient off this powerful medication called quantitative easing and i think that debate is going to be quite a protracted one because it's a little too early in my view to say recovery is established we can return to normal we can raise rates i don't think that is going to happen but there are there are critics of the fed who sa
banks are very important indeed there are those who say that the most important institutions in the economy today and judging by the way that people hang on ben bernanke is every word like today like today as we're speaking it's obviously true now i think one has to be careful here the central bank has done a tremendous job of avoiding the great depression we came very very close to total meltdown two thousand and eight two thousand and nine we could have rerun the one nine hundred thirty s. i...
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Jun 18, 2013
06/13
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CNBC
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economy would not only be a stall on the u.s. economy as we see the policies set be i the fed are being imitated this is what draggy has been doing in europe and in japan. i many own sense is that for a short period of time, probably another two or three quarters. it's important for america to continue to provide the leadership that will allow a global recovery to occur. then we do have to get on with the business of solving structural issues. i don't think it will be easier to solve structural issues if we find ourselves back in the state in the recovery we currently have is going to be questioned. >> i think that's right nevada the confidence fa we node to keep if economy going seems to be correlated to the market's perception of what the fed is doing. and maybe we're surprised by that a little bit because the fundamentals shouldn't be so checked. but the pact is, they are. the psychology, the canesian animal spirits, if you will, seem to be realed to the market's reactions to where the fed is on the issue. and i think what you
economy would not only be a stall on the u.s. economy as we see the policies set be i the fed are being imitated this is what draggy has been doing in europe and in japan. i many own sense is that for a short period of time, probably another two or three quarters. it's important for america to continue to provide the leadership that will allow a global recovery to occur. then we do have to get on with the business of solving structural issues. i don't think it will be easier to solve structural...
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Jun 20, 2013
06/13
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FBC
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it is not a great economy. we have a pickup in housing, we have better gdp numbers although still -- adam: not great. >> no one is forecasting anything above 3%. we have lots of underemployment even if employment is -- unemployment is going down. that is with accommodationist fed policy. what happens if you take that way way? market says if you take that way, don't bet on it. that is bad economy. tracy: should the market not benefit from that, because that will stop qe? >> that is the second phase. the market has a mind. the mind if you stop it which bernanke said he would or probably would if certain things happen which he thinks are happening this is exactly how he said it, all those caveats. tracy: right. >> the market says sell. if janet yellen comes in, all bets are off, i'm printing money you will see the market go up. if they print money as average investor, market goes to 20,000. if they don't print i think we'll get more of this one or the other. adam: charlie gasparino. tracy: thank you very much. cha
it is not a great economy. we have a pickup in housing, we have better gdp numbers although still -- adam: not great. >> no one is forecasting anything above 3%. we have lots of underemployment even if employment is -- unemployment is going down. that is with accommodationist fed policy. what happens if you take that way way? market says if you take that way, don't bet on it. that is bad economy. tracy: should the market not benefit from that, because that will stop qe? >> that is...
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is it possible to navigate the economy with all the details and specifics in the information and media will keep you up to date by decoding the mainstream. states in your mind. good afternoon welcome to prime interest i'm bob english in washington d.c. area and has a day off so here are the stories we're tracking today now the markets are showing no love for bernanke in the thread after hinting yesterday that the fed might wind down quantitative easing in the u.s. responded sold off during the day and again overnight and again during today s. and p. five hundred open below a key technical support this morning and the money is not flowing into bonds as it's had been in the past instead somewhat reminiscent of two thousand and eight money is flowing into cash namely the u.s. dollar and in another twist money is also flowing out of emerging markets at the past his pace since two thousand and eleven we'll talk about the markets on the fed with will neil ferguson and a floor trader ben well as in a little bit and just when you thought the treasury department would simply keep its meddling t
is it possible to navigate the economy with all the details and specifics in the information and media will keep you up to date by decoding the mainstream. states in your mind. good afternoon welcome to prime interest i'm bob english in washington d.c. area and has a day off so here are the stories we're tracking today now the markets are showing no love for bernanke in the thread after hinting yesterday that the fed might wind down quantitative easing in the u.s. responded sold off during the...
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Jun 19, 2013
06/13
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FBC
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economy. where should you be investing in what should be your priority when it comes to saving for retirement. should your kids education topped the list. exclusive tips after the break. at a dry cleaner, with a machi. we replacee what? customers didn't like it. so why do banks do it? hello? hello?! if your ba doesn't let you talk ta al pern 24/7, you need an ally. hello? ally bank. your mey needs an ally. i work for7 dierent companies. well, technically i work for one. that company, e united states postal service® works for thounds of home businesses. because at usps.m® you can pay, print and have your packages picked up for free. i can even drop off free boxes. i wear a lot of hats. well, chnically i wear one. the u.s. postal service®, no business too sml. vo: ta friend under water is end something completely different.t well, chnically i wear one. i met a turtle friend today so, you don't get that very often. it seemed like it was more than happy to have us in his home. so beautiful. avo
economy. where should you be investing in what should be your priority when it comes to saving for retirement. should your kids education topped the list. exclusive tips after the break. at a dry cleaner, with a machi. we replacee what? customers didn't like it. so why do banks do it? hello? hello?! if your ba doesn't let you talk ta al pern 24/7, you need an ally. hello? ally bank. your mey needs an ally. i work for7 dierent companies. well, technically i work for one. that company, e united...
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Jun 22, 2013
06/13
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a growing economy. the idea that a lot of excess money will flow into the market, of course, scares -- that it will stop happening scares market participants. >> another surprise out of the news conference, moving the goalpost. when the jobless rate hit 7% the fed will likely pull back. we're at 7.6%. explain how lower unemployment could lead to negative results for the market. >> well, it's one of these things where if things go up too fast in terms of the economy then the market participants, in particular those institutions who have now become reliant on monetary policy to drive stocks they may force mr. bernanke to become more aggressive and take the pedal off and put pressure off the pedal and start to taper a little bit. faster. i think that's what most people are worried. we think it's nonsense. fundamentals drive stocks and we're in the mid of a grand transition from dependency on monetary policy to dependency onfuls and we think there's volatility along the way. >> you might be right. volatilit
a growing economy. the idea that a lot of excess money will flow into the market, of course, scares -- that it will stop happening scares market participants. >> another surprise out of the news conference, moving the goalpost. when the jobless rate hit 7% the fed will likely pull back. we're at 7.6%. explain how lower unemployment could lead to negative results for the market. >> well, it's one of these things where if things go up too fast in terms of the economy then the market...
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Jun 17, 2013
06/13
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CNBC
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the economy is kind of stuck on credit right now. >> rates are already rising. stock traders are saying look at the bond market. they're responding to this as well right now. >> that's the indigestion, i think. you couldn't just say, rates are here, they're going to base stock market value certainties off this that rates are going up. i don't think it's really the likelihood, but i do think you have at least enough doubt with stocks having done what they've done year to date, you don't have a lot of room for error there. >> bob, what do you think the feds will say on wednesday? you have to have anticipation if you're putting money in this market. >> i think the fed is going to stay with the message they've been saying since the start of the year, which is we will taper when we've seen a financial improvement in the labor market. and then they'll leave up to the labor market to determine what is substantial. >> i think they also don't want people to interpret tapering as no more help. that's been the nuance. >> tapering means lower numbers. not necessarily 85 bil
the economy is kind of stuck on credit right now. >> rates are already rising. stock traders are saying look at the bond market. they're responding to this as well right now. >> that's the indigestion, i think. you couldn't just say, rates are here, they're going to base stock market value certainties off this that rates are going up. i don't think it's really the likelihood, but i do think you have at least enough doubt with stocks having done what they've done year to date, you...
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Jun 22, 2013
06/13
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FOXNEWSW
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if we see interest rates go up, what does that do to the market and it to the economy? >> that's your real danger. a few weeks al ago, 1.6% on a government bond and now 2.5%. who cares. you try to get a mortgage six to eight weeks ago, you could you have gotten it at 3%. now it's pushing 4%. that's a big difference in how you value a home. so this is the market behaving. this isn't the federal reserve. that's bigger than the federal reserve. if it continues and we go to another percent up rapidly, you're going to see housing prices start to go down again and the recovery ending 37 so we don't want to go too far. but i do think a little was good because it was taking the heat off the stock markets. and we don't want artificially low rates, but they deserve rates at about today's level. >> john mayfield, does that worry you, the housing market is one of the few positives in the economy right now. >> yeah, but i don't think rates will go up significantly for a matter of time. you understand to dave's point that 8% was the benchmark brought up by the administration. give us
if we see interest rates go up, what does that do to the market and it to the economy? >> that's your real danger. a few weeks al ago, 1.6% on a government bond and now 2.5%. who cares. you try to get a mortgage six to eight weeks ago, you could you have gotten it at 3%. now it's pushing 4%. that's a big difference in how you value a home. so this is the market behaving. this isn't the federal reserve. that's bigger than the federal reserve. if it continues and we go to another percent up...
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Jun 20, 2013
06/13
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FBC
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investors try to let gays cells of the economy, not just the u.s., but the global economy. a lot of news, and assault team coverage with nicole petallides. once again standing by the new york stock exchange. a big sell-off. phil flynn at the cme tracking down the commodities, especially metals. jo ling kent is here with a very troubling story about china that we are following, but first to you, nicole. your headline please. >> reporter: to the big deal here is watching the volatility. we had a lot of 200. swings in the last 21 days since ben bernanke and his testimony may 22nd. half of those, ten of the 21 actually had 200. swings. the volatility is here and today you are obviously seeing a bigger move unusual. 350 points to the downside. cheryl: and an unusual move. that is how you would characterize this. >> reporter: absolutely an unusual move. essene the volatility of 10200, but not 350. cheryl: you will get back to you in a moment. phil flynn at the cme. >> reporter: it is a metals meltdown. what temperature doubles milton mack probably when the fed starts talking abou
investors try to let gays cells of the economy, not just the u.s., but the global economy. a lot of news, and assault team coverage with nicole petallides. once again standing by the new york stock exchange. a big sell-off. phil flynn at the cme tracking down the commodities, especially metals. jo ling kent is here with a very troubling story about china that we are following, but first to you, nicole. your headline please. >> reporter: to the big deal here is watching the volatility. we...
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to the global economy. more news today. the full these are the images. from the streets of canada. today. to coop. the federal open market committee meeting today meeting began this morning we are patiently awaiting the fed's press conference tomorrow to hear what bernanke he has to say about when apple and see him might start to scale back the pace of its bond buying program i earlier spoke with dana chasen who is an economic policy adviser and the former congressional liaison at americans for financial reform i first asked him when will the fed start winding down as quantitative easing bond buying program. no one knows for sure i think the consensus is that there's a small chance that they may begin to implement the tapering down third quarter or more likely fourth quarter but of this year of this year yes and when does the third quarter officially start. july the subject to december before the early as to why. small chance more likely fourth quarter but it could easily be twenty fourteen some time or the fed him say and start using the word tapering back in may and we saw the ri
to the global economy. more news today. the full these are the images. from the streets of canada. today. to coop. the federal open market committee meeting today meeting began this morning we are patiently awaiting the fed's press conference tomorrow to hear what bernanke he has to say about when apple and see him might start to scale back the pace of its bond buying program i earlier spoke with dana chasen who is an economic policy adviser and the former congressional liaison at americans for...
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Jun 20, 2013
06/13
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who could believe that anyone would actually want our economy to be weak? who would want people thrown out of work? that's how bonds work. people want to bid them up on bad news and sell them on good news. normally, you wouldn't have to worry about any of this. these are not normal times. again, imagine the united states is a stock that pays an okay dividend. we know that as stocks go down the yield goes higher. that's because the dividend stays the same but when you divide it by the share price the declining stock, well, the yield grows. right? i mean, pays $4 dividend. it's at 100. and then the stock goes to 80. well, obviously the dividend's yield is higher. so when sellers knock this country's stock down, it gets a bigger yield. suddenly the stock of the united states, continuing the fictional analogy-s once again competitive with the stocks of individual companies that people are hiding in on a yield basis. remember that tent, the hiders and capital appreciation people? yeah, that's right. the price of the u.s. fell so hard today off bernanke's happier
who could believe that anyone would actually want our economy to be weak? who would want people thrown out of work? that's how bonds work. people want to bid them up on bad news and sell them on good news. normally, you wouldn't have to worry about any of this. these are not normal times. again, imagine the united states is a stock that pays an okay dividend. we know that as stocks go down the yield goes higher. that's because the dividend stays the same but when you divide it by the share...
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Jun 20, 2013
06/13
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economy and to cisco? >> i think this is where the fed deserves a lot of credit in the last couple of years. we haven't done things with deficit spending and repatriation to stimulate the economy. the fed used all of the skills that they had. so you've got a track record of calling it right. if they believe it's time to slowly taper back a little bit, the main thing is the economy is in better shape. >> it's not tapering that you want, you want tax reform in the united states. you want to get that money which you have to hold off shore for u.s. jobs, yes? >> the u.s. tax system is broken. we've waited for years for it to come back. we're assuming that's not going to happen. we don't think that it's going to happen. that's why you see me traveling throughout asia pacific, throughout europe and you've seen the majority of our acquisitions in the past year in terms of the big ones, at least half over seas. >> you can't repay the try eight the $47 billion? >> i can't repay the try eight the $47 billion. i'm on
economy and to cisco? >> i think this is where the fed deserves a lot of credit in the last couple of years. we haven't done things with deficit spending and repatriation to stimulate the economy. the fed used all of the skills that they had. so you've got a track record of calling it right. if they believe it's time to slowly taper back a little bit, the main thing is the economy is in better shape. >> it's not tapering that you want, you want tax reform in the united states. you...
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Jun 22, 2013
06/13
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directn [laughter] >> something isn't right about the economy. i'm trying to be positive, and @%s, it has expanded every quarter going back to 2009.onsit but it is consistently weak growth. the job market has alsooak up al improved, but not enough to soak up all the new people that are coming into the job market. housing seems to be doing better. in some places, there is another price bubble.ecause but there is swapping 44%, they are either underwater or they the't have enough equity. it is the same number, 44% of people people people that they are worse off economically compared to just one year ago. it is a huge portion that isntry still hurting.gh i even though i don't like what the fed has done, i do not see a the fed making any big changes.s i do not see this fragileofts economy jumping out of this anytime soon. melissa: be sure to watch the tom sullivan show this weekend. you can catch it at seven and 10:00 p.m. on sunday at 7:00 a.m. andhappy. 7:00 p.m. happy friday, everyone. thank you foroi nijoining us.eel have a great weekend. we will
directn [laughter] >> something isn't right about the economy. i'm trying to be positive, and @%s, it has expanded every quarter going back to 2009.onsit but it is consistently weak growth. the job market has alsooak up al improved, but not enough to soak up all the new people that are coming into the job market. housing seems to be doing better. in some places, there is another price bubble.ecause but there is swapping 44%, they are either underwater or they the't have enough equity. it...
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Jun 15, 2013
06/13
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economy? >> i don't know. i would be a little bit more careful than keith and say let's move all the policy and remove ben bernanke's presence in the economy. the fed has done an extremely important role in the past several years of lessening the impact of this recession. it was a real meltdown we were experiencing in '08. what we are seeing now is an economy that's still heelialing from this deep recession. the housing market is looking better, auto production sales are picking up. some of the most cyclical parts of the economy are showing strength. i think we are on the beginning, in the beginning stages of that. what would worry me is that if you take away this fed policy too easily and create a big spike in interest rates, costs go up. two of the sectors that are performing the best, housing and auto, could start to suffer. i think you have to be very careful when you are this i go about policy prescriptions for the economy. >> what you are both illustrating to me was the word of the week, taper. it is no
economy? >> i don't know. i would be a little bit more careful than keith and say let's move all the policy and remove ben bernanke's presence in the economy. the fed has done an extremely important role in the past several years of lessening the impact of this recession. it was a real meltdown we were experiencing in '08. what we are seeing now is an economy that's still heelialing from this deep recession. the housing market is looking better, auto production sales are picking up. some...
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Jun 15, 2013
06/13
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have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheets, which is why we're not in the shape of china or brazil or india. can you imagine we're doing better than all of those places? tuesday we have a slew of japanese industrial production reports. we've got machine tools. we've got merchandise trade deficits. now, for years, i couldn't care less about this stuff. i could care less. i mean, really, like japan. it stopped meaning anything for a decade. these days, market players are drawn to japan because the government has a policy of driving its own currently down to build exports. if the data is positive here, japan's stock market will rocket. and if it doesn't and the government has nothing to say about it, like 6% declines lik
have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheets, which is why we're not in the shape of china or brazil or india. can you imagine we're doing better than all of those places?...
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Jun 19, 2013
06/13
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FOXNEWSW
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a lot of that, ben bernanke seem to think the economy is improving enough they can take some of that nicotine away. whether that is good or bad in the long term. very short term, they didn't like it. we're going to be all over it in a few minutes. in the meantime, we are also following these developments, not the least, the fallout on heavily and where it goes and more specifically on this immigration plan and where it is not going. stick around. [ male announcer ] we've been conditioned to accept less and less in the name of style and sophistication. but to us, less isn't more. more is more. abundant space, available leading-edge technology, impeccable design, and more than you've come to expect from a luxury vehicle. the lexus es350 and epa-estimated 40 mpg es hybrid. this is the pursuit of perfection. >>. >> neil: you know they knew this day was coming but the reality is sinking is by day's end sending stocks sinking. dow off 206 points off of indications, that ben bernanke has finally has a plan or quasi plan to pull the punch bowl away the tapering of the bond buying and mortgag
a lot of that, ben bernanke seem to think the economy is improving enough they can take some of that nicotine away. whether that is good or bad in the long term. very short term, they didn't like it. we're going to be all over it in a few minutes. in the meantime, we are also following these developments, not the least, the fallout on heavily and where it goes and more specifically on this immigration plan and where it is not going. stick around. [ male announcer ] we've been conditioned to...
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Jun 19, 2013
06/13
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CNBC
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is it a recognition the economy might be better than we think? are we starting to work in the taper? why are rates going up? >> rates aren't going up, scott. they're sideways. they went up earlier and they went up to about 2.30% on the ten-year which we talked about a few weeks ago and since then they're just bouncing around. rates really aren't rising. they're going sideways, and i think actually rates are going to start falling. i think the place, the one place that you're likely to make money in the next several weeks, maybe couple of months, is actually, believe it or not, the most hated asset class on the planet, long-term u.s. government bonds. that's what i think is going to be the most successful investment, and looking at to the reach that conclusion is the fact that there is no inflation anywhere. there's no sign of inflation. when you look at the commodity market in particular, it really looks bad. i mean, look at where copper is. look at where gold is. look at where gold is in foreign currencies. i mean, it's hitting new lows in terms
is it a recognition the economy might be better than we think? are we starting to work in the taper? why are rates going up? >> rates aren't going up, scott. they're sideways. they went up earlier and they went up to about 2.30% on the ten-year which we talked about a few weeks ago and since then they're just bouncing around. rates really aren't rising. they're going sideways, and i think actually rates are going to start falling. i think the place, the one place that you're likely to...
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Jun 20, 2013
06/13
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CNBC
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to help improve the economy. that's why democrats and republicans on capitol hill, and the president, need to deal with a fix our tax code to help promote more economic growth and deal with long-term spending problems. we have spent more money than what we brought in for 55 of the last 60 years. that ought to scare the hell out of every american. we need deal with this problem openly and honestly. because if we do, investors around the country, business owners will look up and good, gee, they are actually dealing with the issues that i'm most concerned about. then i'll begin to invest. >> but how likely is that over the next year? bernanke made it clear yesterday that if the data continues as it is, then they could be out of the bond buying business by next year this time. that bun year. will we see fiscal policy in terms of tax reform. in terms of regulatory clarity. will we see that in the next 12 months? >> hope springs eternal in my heart. while we have big differents on what tax reforms might look like, what
to help improve the economy. that's why democrats and republicans on capitol hill, and the president, need to deal with a fix our tax code to help promote more economic growth and deal with long-term spending problems. we have spent more money than what we brought in for 55 of the last 60 years. that ought to scare the hell out of every american. we need deal with this problem openly and honestly. because if we do, investors around the country, business owners will look up and good, gee, they...
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Jun 15, 2013
06/13
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CNBC
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have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheets, which is why we're not in the shape of china or brazil or india. can you imagine we're doing better than all of those places? tuesday we have a slew of japanese industrial production reports. we've got machine tools. we've got merchandise trade deficits. now, for years, i couldn't care less about this stuff. i could care less. i mean, really, like japan. it stopped meaning anything for a decade. these days, market players are drawn to japan because the government has a policy of driving its own currently down to build exports. if the data is positive here, japan's stock market will rocket. and if it doesn't and the government has nothing to say about it, like 6% declines lik
have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheets, which is why we're not in the shape of china or brazil or india. can you imagine we're doing better than all of those places?...
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Jun 22, 2013
06/13
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FBC
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it is to ensure the safety of the economy. if you want to bring it ck to the child, to make sure the child is safe, right? that is the primary concern. the economy is getting better, in theory the stock market will be okay and i think liz makes a very valid point. the market is getting ahead of itself or miss analyzingng the recovery. the recovery is solid. charles:'s stance with the fed is trying to do and have always tried to do is kick off the virtuous cycle. grading an illusion they are much better, your house is worth more, this makes people go out and shop, the shopkeeper hires more people and theyn turn have a job now and spend and the next shopkeeper hires someone w we have this virtuous cycle, positive cycle and it see to matter what ben bernanke tries to do it does not click, it has not clicked in yet. >> in fact it has clicked. we are in a period of economic growth, we can debate the level, it is not satisfactory and so on. the hpe is when you do all these things and there are other forms of stimulus other than the
it is to ensure the safety of the economy. if you want to bring it ck to the child, to make sure the child is safe, right? that is the primary concern. the economy is getting better, in theory the stock market will be okay and i think liz makes a very valid point. the market is getting ahead of itself or miss analyzingng the recovery. the recovery is solid. charles:'s stance with the fed is trying to do and have always tried to do is kick off the virtuous cycle. grading an illusion they are...
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Jun 21, 2013
06/13
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economy, is only growing at 1.5%, so valuations are here. the economy and growth is here. and you're going to have to go through that corrective phase. we would recommend that investors continue to move up the quality spectrum as well as move down their duration and buy shorter-term maturities on their bonds. >> you got killed if were you in bonds this week. >> completely destroyed. >> and $38 billion of money coming out of bond funds. >> got completely destroyed. if the expectations are correct with the federal reserve -- which i don't agree with -- then you could see the 10-year move to a 3.5 handle over the course of the next several months. and that, indeed, is why the fear trade is starting to kick in. >> 30 seconds. best stock idea. >> best is triumph group, an aerospace parts company. we have price target there of $90 a share. >> the quality curve. >> quality inspection. >> johnson & johnson, and i'm giving you back 27 seconds. >> you won't tell us why. just -- >> johnson & johnson. international growth. great yield. 3.3%. if you want other drug stocks, abbott and m
economy, is only growing at 1.5%, so valuations are here. the economy and growth is here. and you're going to have to go through that corrective phase. we would recommend that investors continue to move up the quality spectrum as well as move down their duration and buy shorter-term maturities on their bonds. >> you got killed if were you in bonds this week. >> completely destroyed. >> and $38 billion of money coming out of bond funds. >> got completely destroyed. if the...
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Jun 19, 2013
06/13
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FBC
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and the stocks are benefiting from the economy getting better and maybe eventually international economy getting better, the ones that did better during this timeframe. cheryl: i guess i stand corrected. we did sell on the news. want to ask you about that gdp production and whether you make any thing out of this. 2013, initially -- in march it was 23 to 28. today they came out and said foxbusiness.com to. cheryl: >> the economy is going through this fiscal drive. you mentioned there is fiscal worries. i think that you have to take that into account. more interesting is in the future years on how it will rebound. it implies that the fiscal drag will fall back. cheryl: and over to you about the differences here in the fed and what could be a change in. he was twice asked what his plans or and refused to answer the question. but at the same time, everyone seems to think the majority of those out there say janet will be the next federal reserve chairman. but that change is still unclear. what do you think happens? what is your prediction? >> my prediction would be janet, but i would caution
and the stocks are benefiting from the economy getting better and maybe eventually international economy getting better, the ones that did better during this timeframe. cheryl: i guess i stand corrected. we did sell on the news. want to ask you about that gdp production and whether you make any thing out of this. 2013, initially -- in march it was 23 to 28. today they came out and said foxbusiness.com to. cheryl: >> the economy is going through this fiscal drive. you mentioned there is...
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Jun 20, 2013
06/13
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economy. where shou you be investing in what should be your priority when it comes to saving for retirement. should your kids education topped the list. exclusive tips after the break. at a dry cleaner, with a machine. we replacee what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your mon needs an ally. if you have hi cholesterol here's some information that may be worth looking into. in a clinical trial versus lipitor crestor got more hi-risk patients' bad cholesterol to a goal of under 100. getting to goal is important, especially if you have high cholesterol plus any of these risk factors because you cod be at creased sk for plaque budup in your arteries over time. and that's why when diet and exercise alone aren't enough to lower cholesterol i prescribe crestor. [ female announr ] crestor is not right for evyone. like people with liver disease or women who are nursing, pregnant
economy. where shou you be investing in what should be your priority when it comes to saving for retirement. should your kids education topped the list. exclusive tips after the break. at a dry cleaner, with a machine. we replacee what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your mon needs an ally. if you have hi cholesterol here's some information that may be worth looking...
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Jun 23, 2013
06/13
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KTVU
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the economy is not improving significantly. you have conversations in the fed and wall street it is a disconnect. >> if the fed raises interest rates that can effect the mortgage rates and all kinds of things. it raises the question whether or not it was a mistake for the fed to be attached. did the economy and all of us become addicted to easy money? >> i think so. i e-mailed four different economists and financial types. took the words out of my mouth. i think, yes, there was a reasonable reason for an emergency intervention in 2008. keeping zero interest rate going for five years is asking for trouble down the roads. i'm afraid at some point we'll pay the price. i think the zero interest rate regime was good for wall street, big banks and big government which can borrow cheap. if interest rates were higher we would see an impact on the deficit. it's bad for small savers. it's been bad for small business actually. community banks don't benefit from this regime. i think the bernanke policies are part of an overall set of polic
the economy is not improving significantly. you have conversations in the fed and wall street it is a disconnect. >> if the fed raises interest rates that can effect the mortgage rates and all kinds of things. it raises the question whether or not it was a mistake for the fed to be attached. did the economy and all of us become addicted to easy money? >> i think so. i e-mailed four different economists and financial types. took the words out of my mouth. i think, yes, there was a...
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Jun 20, 2013
06/13
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zee an economy going through withdrawal and some of the economy and it's not a lot of it was addicted to this cheap money. the reality is i like what the fed chairman did. he came out with this when the market was near its top. had he done that when the market was down 200 s&p point from here it might be a different story, but i like the fact that he's let a little of this fluff come off, and i'm a buyer of this break and with the withdrawal comes and aren't you supposed to have some positive feeling before you hit withdrawals? >> it's not only that. it's the policy itself that i'm objecting to. >> katie, welcome to the show. you've got to jump in. this is a rough crowd. you've got to jump in. i'd like it hear your take on today's market on the inerds of this market including gold which got slaughtered today and only the dollar held up nicely. what did you learn from looking inside the market whether it's trading volume or sectors in the s&p. what did you learn? >> a lot of things from today, in fact. it was a very important day in a lot of levels and volume was one thing that bears p
zee an economy going through withdrawal and some of the economy and it's not a lot of it was addicted to this cheap money. the reality is i like what the fed chairman did. he came out with this when the market was near its top. had he done that when the market was down 200 s&p point from here it might be a different story, but i like the fact that he's let a little of this fluff come off, and i'm a buyer of this break and with the withdrawal comes and aren't you supposed to have some...
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Jun 18, 2013
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do we see a better economy? or do we see the sequester take some oompf out of the economy in. >> there are two significant issues. number one, earnings have been good, but revenue growth is slowing. economic data is mixed. again, we have some manipulation in the economic numbers based on moving the fed's balance sheet from 500 billion to 3.4 trillion. i also think we have to be cognizant of the fact that investors still have not gained full confidence. they're still weary, they're still concerned. just take a look at a 10% drop in gold one day, or 8% drop in japan, which followed through to a total of 20% loss, and it shows you the first sign that investors get that things are not as good as expectations, or that there will be any type of pullback in the liquidity run, they'll go running for the hills. i'm not saying run out of equity. we love equity long term. there's too many ways to be -- too many reasons to be bullish on equity. but my point is second half stay disciplined. don't let those equity bounces in
do we see a better economy? or do we see the sequester take some oompf out of the economy in. >> there are two significant issues. number one, earnings have been good, but revenue growth is slowing. economic data is mixed. again, we have some manipulation in the economic numbers based on moving the fed's balance sheet from 500 billion to 3.4 trillion. i also think we have to be cognizant of the fact that investors still have not gained full confidence. they're still weary, they're still...
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economy, housing around energy, but overall the economy is very unlikely to grow at 5% or 5.5% knowledge nal which is what the fed is forecasting and, therefore, the degree to which the market is pricing in tapering is unlikely to materialize. these rates actually will probably stabilize and head lower towards the end of the year. granted, we're seeing a lot of unwinding and a lot of volatility, but these markets should stabilize over time and this will prove to be an attractive buying opportunity. >> hold on one second, simon. jeff gundlach was on our show yesterday who said treasuries were set to rally fairly quickly, that you're sort of in this scenario of really nowhere to make any money these days just given what's happening. >> yeah. if you look at our investment grade high quality corporate bond portfolios today as of this morning, they're yielding 4.25% to 6% for long maturity high quality corporate bonds. that's going to attract from our clients globally. you will see buyers gradually step in and obviously bernanke and what the fed's predicament is in has created a lot of volati
economy, housing around energy, but overall the economy is very unlikely to grow at 5% or 5.5% knowledge nal which is what the fed is forecasting and, therefore, the degree to which the market is pricing in tapering is unlikely to materialize. these rates actually will probably stabilize and head lower towards the end of the year. granted, we're seeing a lot of unwinding and a lot of volatility, but these markets should stabilize over time and this will prove to be an attractive buying...